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Fir Tree Capital Management Portfolio holdings

AUM $21.8M
1-Year Est. Return 1.61%
This Fund
S&P 500
This Quarter Est. Return
-2.1%
1 Year Est. Return
-1.61%
3 Year Est. Return
+17.29%
5 Year Est. Return
+41.7%
10 Year Est. Return
+54.64%
AUM
$2.64B
AUM Growth
-$2.99B
Cap. Flow
-$2.7B
Cap. Flow %
-102.19%
Top 10 Hldgs %
71.29%
Holding
83
New
16
Increased
–
Reduced
19
Closed
24

Top Buys

Rank Stock Value
1
EMC
EMC CORPORATION
EMC
+$158M
2
WBA
Walgreens Boots Alliance
WBA
+$114M
3
PFE icon
Pfizer
PFE
+$30.5M
4
WSC icon
WillScot Mobile Mini Holdings
WSC
+$19.2M
5
CLAC
Capitol Acquisition Corp. III
CLAC
+$9.59M

Top Sells

Rank Stock Value
1
HCA icon
HCA Healthcare
HCA
+$244M
2
AGN
Allergan plc
AGN
+$179M
3
MET icon
MetLife
MET
+$178M
4
TAP icon
Molson Coors Class B
TAP
+$171M
5
MON
Monsanto Co
MON
+$159M

Sector Composition

Rank Sector Weight
1 Healthcare 27.56%
2 Industrials 19.87%
3 Energy 10.8%
4 Real Estate 8.62%
5 Consumer Discretionary 7.54%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WSC icon
26
WillScot Mobile Mini Holdings
WSC
$4.66B
$19.4M 0.74%
+2,000,000
New +$19.2M
TRTL
27
DELISTED
Terrapin 3 Acquisition Corporation Class A
TRTL
$18.1M 0.69%
1,831,500
– –
EACQ
28
DELISTED
Easterly Acquisition Corp
EACQ
$17.9M 0.68%
1,850,000
– –
BLVD
29
DELISTED
Boulevard Acquisition Corp. II Class A Common Stock
BLVD
$16.6M 0.63%
1,700,000
– –
FCX icon
30
CALL
Freeport-McMoran
FCX
$88.6B
$15.1M 0.57%
+1,460,200
New +$10.3M
CHDN icon
31
Churchill Downs
CHDN
$6.22B
$14.9M 0.56%
603,996
– –
NEXT icon
32
NextDecade
NEXT
$1.63B
$11.7M 0.44%
1,184,920
– –
ELEC
33
DELISTED
Electrum Special Acquisition Corporation
ELEC
$10.6M 0.4%
1,100,000
– –
CLAC
34
DELISTED
Capitol Acquisition Corp. III
CLAC
$9.73M 0.37%
+1,000,000
New +$9.59M
PRPL icon
35
Purple Innovation
PRPL
$35.7M
$6.87M 0.26%
28,000
– –
AGRO icon
36
Adecoagro
AGRO
$1.45B
$4.9M 0.19%
+425,000
New +$5.16M
DSKE
37
DELISTED
Daseke, Inc. Common Stock
DSKE
$4.84M 0.18%
500,000
– –
CWEI
38
DELISTED
Clayton Williams Energy, Inc.
CWEI
$4.17M 0.16%
+467,095
New +$6.82M
CIVI
39
DELISTED
Civitas Resources
CIVI
$3.2M 0.12%
+18,039
New +$4.78M
LMB icon
40
Limbach Holdings
LMB
$864M
$2.97M 0.11%
300,000
– –
PACEW
41
DELISTED
Pace Holdings Corp. Warrants
PACEW
$620K 0.02%
+2,000,000
New +$735K
TRTLW
42
DELISTED
Terrapin 3 Acquisition Corporation
TRTLW
$549K 0.02%
+1,831,500
New +$560K
EAGLW
43
DELISTED
Double Eagle Acquisition Corp. Warrant
EAGLW
$530K 0.02%
+2,000,000
New +$973K
QPACW
44
DELISTED
Quinpario Acquisition Corp. 2 Warrant
QPACW
$525K 0.02%
2,500,000
– –
GRSHW
45
DELISTED
Gores Holdings, Inc. Warrants
GRSHW
$500K 0.02%
+2,000,000
New +$611K
EACQW
46
DELISTED
Easterly Acquisition Corp.
EACQW
$370K 0.01%
925,000
– –
IBM icon
47
IBM
IBM
$214B
$352K 0.01%
2,432
-104,715
-98% -$13.4M
BLVDW
48
DELISTED
Boulevard Acquisition Corp. II Warrant
BLVDW
$225K 0.01%
850,000
– –
ELECW
49
DELISTED
Electrum Special Acquisition Corporation
ELECW
$220K 0.01%
1,100,000
– –
CLACW
50
DELISTED
Capitol Acquisition Corp. III Warrants
CLACW
$150K 0.01%
+500,000
New +$211K
1
2
3

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Fir Tree Capital Management's Q1 2016 Portfolio in Review

As of Q1 2016, Fir Tree Capital Management held 83 positions worth $2.64B, down 53% from $5.63B the previous quarter. Its ten largest holdings account for 71% of the portfolio.

Fir Tree Capital Management withdrew a net $2.7B in Q1 2016, closing 24 positions and reducing 19 holdings. Its most notable exit was MetLife, an estimated $178M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 28% of assets, up from 22% a quarter earlier, followed by Industrials and Energy.

Against the trend, Fir Tree Capital Management opened a new position in EMC CORPORATION worth $166M.

  • Fir Tree Capital Management's largest Q1 2016 buy was EMC CORPORATION: 6,244,060 shares worth $166M.
  • Fir Tree Capital Management's biggest Q1 2016 reduction was HCA Healthcare, cutting an estimated $244M.
  • Fir Tree Capital Management fully exited MetLife in Q1 2016, selling an estimated $178M.
  • Fir Tree Capital Management's ten largest holdings make up 71% of its $2.64B portfolio in Q1 2016.
  • Fir Tree Capital Management opened 16 new positions and closed 24 in Q1 2016.
  • Fir Tree Capital Management's portfolio value fell 53% quarter-over-quarter to $2.64B.

Based on Fir Tree Capital Management's 13F filing for Q1 2016, filed 16 May 2016.